CORRUPTION IN YOUR OWN BACK YARD
[Publisher’s Note: As part of an ongoing effort to bring original, thoughtful commentary to you here at the FlashReport, I am pleased to present this column from Jon Coupal. Coupal is the President of the Howard Jarvis Taxpayers Association – Flash]
A recent front page story in theLos Angeles Timesraised the curtain on a dirty little secret that local school officials don’t want the public to know. Many school boards throughout California have indulged in a process that can best be described as “bribery and money laundering” which grossly inflates the cost of bond debt — the result of which is higher taxes on homeowners.
Here is how it works. A school board determines it wants to pass a bond that will be paid for by property owners. Because government officials are prohibited from using taxpayer dollars topromotea ballot measure, they cut a deal with a bond underwriter to fund the effort and provide expert campaign… Read More